The Nigerian equities market sustained its upward trajectory on Wednesday, July 9, 2025, as investors recorded a gain of N212 billion, extending the bullish streak fueled by renewed interest in fundamentally strong and highly capitalised stocks across key sectors.
At the close of trading, the market capitalisation of the Nigerian Exchange Limited (NGX) rose from N76.788 trillion on Tuesday to N77 trillion, while the All-Share Index (ASI) gained 335.74 points, representing a 0.28% appreciation, to settle at 121,989.67 points. This performance reflects growing investor confidence and solid market fundamentals, pushing the year-to-date gain to 18.52%, a four-week gain of 6.99%, and a one-week return of 1.37%.
However, despite the bullish outlook, trading activity on the exchange recorded a decline. A total of 888.7 million shares, valued at N15.6 billion, were exchanged in 24,303 deals, indicating a 12% drop in volume, 16% decline in turnover, and a 2% reduction in the number of trades compared to the previous trading session.
Out of the 128 equities that participated in the session, 59 advanced, 21 declined, and 48 closed flat, highlighting a strong positive market breadth.
Leading the gainers’ chart was Nigerian Enamelware Plc, which surged by 10% to close at N20.35 per share. Other top gainers included Red Star Express Plc (N11.11), Ellah Lakes Plc (N10.45), C&I Leasing Plc (N7.26), RT Briscoe Plc (N3.85), and Chams Plc (N2.75), all posting 10% gains and reflecting renewed retail and institutional investor appetite.
On the flip side, Legend Internet Technology Plc led the losers with an 8.05% drop to N8.00, followed by Guinea Insurance Plc (−7.14%), Eterna Plc (−4.65%), E-Tranzact International Plc (−4.44%), Regency Alliance Insurance Plc (−4.35%), and International Breweries Plc (−4.14%).
Japaul Gold & Ventures Plc led the volume chart with over 137 million shares traded, followed by Access Holdings Plc (83 million), AIICO Insurance Plc (50 million), Universal Insurance Plc (41.9 million), and Ellah Lakes Plc (31.9 million). In terms of value, Access Holdings Plc topped with trades worth N1.84 billion, ahead of GTCO Plc (N1.6bn), Aradel Holdings Plc (N1.55bn), Zenith Bank Plc (N1.34bn), and Nigerian Exchange Group Plc (N1.02bn).
Sector-wise, the Insurance Index posted the strongest performance with a 2.48% gain, while the Industrial Index added 0.97%. The Pension Index rose by 0.6%, Banking Index by 0.45%, and both the Premium and Top 30 Indices gained 0.3% and 0.25% respectively, confirming widespread buying interest across major market segments.
Analysts attribute the sustained rally to improved investor sentiment driven by robust corporate earnings, dividend declarations, and easing macroeconomic indicators, including the moderation of inflation and stabilisation of the naira.
Market watchers believe that the NGX’s current momentum could persist, especially as institutional investors re-balance their portfolios for the second half of the year and bargain hunters continue to take advantage of undervalued stocks.
The NGX had similarly recorded a gain of N76.76 billion in market capitalisation on Tuesday, reflecting a consistent trend of renewed interest in equities and reinforcing expectations of a positive outlook in the coming weeks.
As the market maintains its bullish tempo, investors are advised to monitor corporate disclosures, macroeconomic policies, and global commodity prices, which could influence sectoral movements and overall market sentiment.